‘Misplaced euphoria’: Markets are sleepwalking into a recession amid Iran war oil price shock

Israel

Global economies could be "sleepwalking" into a "big recession", as investors continue to underplay the impact of the oil price shock, Amrita Sen, founder and director, market intelligence at Energy Aspect, told CNBC's "Squawk Box Europe" on Monday. The S&P 500 hit a new all-time intraday high last week, with the broad market index touching 7,230.12 on May 1. That's despite a surge in the cost of energy caused by the war in the Middle East — with oil prices soaring more than 50% since the U.S.-